Budget changes – Oil prices increase by 70 percent
The Azerbaijani government is preparing to increase oil prices in the 2022 state budget.
The current budget law sets the price for Azeri Light at $ 50 per barrel. This figure is expected to increase by $ 35 to $ 85. The draft is currently being discussed at a joint meeting of the Parliamentary Committees on Economic Policy, Industry and Entrepreneurship and Labor and Social Policy.
The project also envisages increasing budget revenues and expenditures. According to the current document, revenues are 26 billion. 816 mln. manats, and expenses – 29 bln. 879 mln. manat is forecasted.
Chairman of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship Tahir Mirkişili During the discussions, he said that the average export price of Azerbaijani oil for five months of this year amounted to $ 106.3 per barrel.
At present, a barrel of Azerbaijani oil costs more than $ 120.
At present, a barrel of Azerbaijani oil costs more than $ 120.